US crude oil stocks down 7.2 mln bbl in wk ended Fri, exports fall, says EIA
This story was originally published at 11:16 IST on 11 June 2026
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MUMBAI – US crude oil inventories, excluding those in the strategic petroleum reserves, fell by 7.2 million barrels to 426.5 million barrels in the week ended Friday, the US Energy Information Administration said in its weekly report. US crude oil inventories were about 5% below the five-year average for this time of the year, according to the report.
Petrol inventories rose 200,000 barrels to 215.1 million barrels in the week ended Friday. Distillate fuel stocks fell by 200,000 barrels to 102.1 million barrels. Distillate fuel stocks were around 13% below the five-year average for this time of the year.
Refinery utilisation rose to 95.3% from 94.7% in the previous week, the report showed. Crude oil production in the US, the largest producer of the commodity, rose by 92,000 barrels per day to 13.80 million barrels per day in the week ended Friday.
US crude oil exports fell 1.03 million barrels per day to 4.84 million barrels per day, the report showed. Strategic petroleum reserves were 349.2 million barrels, down by 7.9 million barrels from the previous week.
US crude oil imports averaged nearly 5.89 million barrels per day during the week, down by 509,000 barrels per day from last week, according to the report. Over the past four weeks, US crude oil imports averaged around 5.9 million barrels per day, 5.8% less than the corresponding period last year.
Of the top 10 countries that export crude oil to the US, imports from six countries fell in the week ended Friday. Imports from Brazil fell the most, by 381,000 barrels per day to 34,000 barrels per day. On other hand, imports from Canada rose the most, by 309,000 barrels per day to 3.99 million barrels per day, according to the report.
Inventories of crude oil at Cushing, Oklahoma, a key delivery point for West Texas Intermediate crude, fell 800,000 barrels to 21.6 million barrels in the week ended Friday. Cushing is the designated delivery point for NYMEX crude oil futures. Market participants closely monitor stockpiles in Cushing, which has a storage capacity of about 90 million barrels.
At 1042 IST, the most-active July contract of crude oil on the NYMEX was up 1.2% at $91.07 per barrel.
Inventory (mln barrels) | Weekly change (%) | |
Crude oil | 426.5 | (-)1.7 |
Petrol | 215.1 | 0.1 |
Kerosene-type jet fuel | 46.2 | 1.8 |
Distillate fuel oil | 102.1 | (-)0.2 |
Propane/propylene | 84.5 | 1.4 |
Unfinished oils | 76.6 | (-)2.0 |
Other oils | 289.2 | (-)0.2 |
End
US$1 = INR 95.67
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Reshma Ravi
Edited by Akul Nishant Akhoury
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